string(13) "markets-macro"

Macro

January 6, 2020

PBoC says “Happy New Year” with RRR cut

On Monday morning, the central bank (PBoC) cut banks’ required reserve ratios (RRRs). Some context: The PBoC announced the cut on January 1. It marks the first RRR cut of 2020, after three cuts in 2019. The details: The PBoC estimates the cut will inject RMB 800 billion of long-term cash into … Username Password Remember… Read More »

The PBoC estimates the cut will inject RMB 800 billion of long-term cash into ...

sources

Xinhua: China’s central bank skips reverse repos as RRR cut unleashes liquidity

PBoC: 中国人民银行决定于2020年1月6日下调金融机构存款准备金率

PBoC: 中国人民银行有关负责人表示：降准支持实体经济发展

PBoC: 中国人民银行公告〔2019〕第30号

January 6, 2020

Phase one deal on track for mid-January signing

Before the break, we reported that the US and China looked set to ink a phase one trade deal in January. The deal is still on course to be signed this month. On December 31, US President Donald Trump announced via tweet that the deal would be signed in Washington on January 15 by “high… Read More »

Before the break, we reported that the US and China looked set to ink a phase one trade deal in January.
The deal is still on course to be signed this month.
On December 31, US President Donald Trump announced via tweet that the deal would be signed in Washington on January 15 by “high level represe...

sources

SCMP: Donald Trump says he will sign phase one US trade deal with China on January 15

Twitter: Trump Tweet

December 20, 2019

Beijing stands up for data privacy

Got ‘em! On Thursday, Chinese tech companies got called out for their shady data collection practices by…the Chinese government? You read that right. This week, the Ministry of Industry and Information Technology (MIIT) put several Chinese tech firms on blast for serious violations of user privacy. …

Got ‘em!
On Thursday, Chinese tech companies got called out for their shady data collection practices by…the Chinese government?
You read that right.
This week, the Ministry of Industry and Information Technology (MIIT) put several Chinese tech firms on blast for serious violations of user privacy.
...

sources

Caixin: Government Blasts Tencent, Xiaomi Apps for Data Privacy Abuses

December 20, 2019

Li Keqiang tells office heads to prepare for a tough year

On Thursday, Li Keqiang met with secretaries-general and general office directors from different levels of government around the country. Some context: These officials are incredibly important. They run the day-to-day affairs of their respective governments. Li thanked everybody for their servi…

On Thursday, Li Keqiang met with secretaries-general and general office directors from different levels of government around the country.
Some context: These officials are incredibly important. They run the day-to-day affairs of their respective governments.
Li thanked everybody for their servi...

sources

Gov.cn: 李克强在北京接见全国政府秘书长和办公厅主任会议全体代表并作重要讲话

Gov.cn: Premier stresses people-oriented administrative services

December 20, 2019

A criança de ouro

On Friday, Xi Jinping was still in Macau for the celebration of the city’s return to Chinese rule and the swearing in ofnew chief executive, Ho Iat Seng. Some context: During his visit, Xi Jinping has been laying it on thick, praising Macau’s model implementation of one country, two systemsin a very…

On Friday, Xi Jinping was still in Macau for the celebration of the city’s return to Chinese rule and the swearing in ofnew chief executive, Ho Iat Seng.
Some context: During his visit, Xi Jinping has been laying it on thick, praising Macau’s model implementation of one country, two systemsin a very...

sources

SCMP: Chinese President Xi Jinping heaps praise on Macau, citing progress and patriotism

Xinhua: Patriotism most important reason for Macao’s success in “one country, two systems” practice: Xi

December 20, 2019

Property developers are going bust

Tight property policy in China is increasingly rippling through the industry. Policymakers’ goal is to rein in the high price of housing – in order to address ever-increasing affordability issues. The upshot is that property developers are taking it on the chin (Caixin): “As of Nov. 27, 459 re…

Tight property policy in China is increasingly rippling through the industry.
Policymakers’ goal is to rein in the high price of housing – in order to address ever-increasing affordability issues.
The upshot is that property developers are taking it on the chin (Caixin):

“As of Nov. 27, 459 re...

sources

Caixin: 459 Real Estate Bankruptcy Filings Raise Concerns of Homebuyers Losing Out

December 20, 2019

Phase one trade deal wrapping up

It’s really happennnnnning! The phase one US-China trade deal is getting wrapped up and ready to be signed in early January. That’s according to comments from US Treasury Secretary Steve Mnuchin on Thursday in the US. The Chinese side is being less specific on timing, but Commerce Ministry Spokesm…

It’s really happennnnnning!
The phase one US-China trade deal is getting wrapped up and ready to be signed in early January.

That’s according to comments from US Treasury Secretary Steve Mnuchin on Thursday in the US.

The Chinese side is being less specific on timing, but Commerce Ministry Spokesm...

sources

Reuters: China says in touch with U.S. on signing of Phase 1 trade deal

Reuters: U.S.-China to sign ‘phase one’ trade pact in early January: Mnuchin

December 19, 2019

Local governments attempt to get a handle on debt

In 2019, local governments have spent a lot of time quietly dealing with their off-balance sheet debt. The Paper did a year-end review of the process, summarizing local governments’ various strategies. There are several models: Zhenjiang model – Swap LGFVs’ debt with low-rate loans from China …

In 2019, local governments have spent a lot of time quietly dealing with their off-balance sheet debt.
The Paper did a year-end review of the process, summarizing local governments’ various strategies.
There are several models:

Zhenjiang model – Swap LGFVs’ debt with low-rate loans from China ...

sources

The Paper: 地方隐性债务化解这两年：各地多种渠道探索，尚无可推广模式

December 19, 2019

State Council promises more transparent government

On Wednesday, the State Council held its weekly executive meeting. Top of the agenda: Making government more transparent. In particular, top officials are seeking to increase transparency at lower levels of administration, where public interaction with government is most common. This includes g…

On Wednesday, the State Council held its weekly executive meeting.
Top of the agenda: Making government more transparent.
In particular, top officials are seeking to increase transparency at lower levels of administration, where public interaction with government is most common. This includes g...

sources

Gov.cn: 李克强主持召开国务院常务会议部署全面推进基层政务公开标准化规范化工作加快服务型政府建设提升利企便民水平等

Gov.cn: China to promote nationwide standardization of transparency in primary-level government affairs

December 19, 2019

Xi bets on Macau

Xi Jinping was in Macau on Wednesday to celebrate the 20th anniversary of the territory’s return to China after being administered byPortugal for over 400 years. The festive occasion was made even more jolly by Xi’s praise of Macau’s accomplishments since its return to the fold (SCMP). “The achieve…

Xi Jinping was in Macau on Wednesday to celebrate the 20th anniversary of the territory’s return to China after being administered byPortugal for over 400 years.
The festive occasion was made even more jolly by Xi’s praise of Macau’s accomplishments since its return to the fold (SCMP).

“The achieve...

sources

China Daily: Xi praises achievements of Macao

SCMP: Macau handover anniversary: Xi Jinping begins visit by heaping praise on city for sticking to ‘one country, two systems’ policy

December 19, 2019

Bank bailouts march on

The bailouts for China’s troubled small banks roll on. The latest development concerns Hengfeng Bank – which has seen its share of challenges in recent months. What’s happening? Surprise! Rather than leaving things to the market, the state is stepping in to bail the lender out (Caixin): “China…

The bailouts for China’s troubled small banks roll on.
The latest development concerns Hengfeng Bank – which has seen its share of challenges in recent months.
What’s happening? Surprise! Rather than leaving things to the market, the state is stepping in to bail the lender out (Caixin):

“China...

sources

Caixin: China’s Hengfeng Bank Gets $14.21 Billion Bailout

December 19, 2019

PBoC ups liquidity, everyone freaks out

Get ready – the central bank (PBoC) is finally stepping in to boost growth in China’s economy. Okay – not really. But that’s what financial headlines will say in the coming weeks. Why you ask? Because the PBoC is very likely to up liquidity provisions from now until the late January Chinese New…

Get ready – the central bank (PBoC) is finally stepping in to boost growth in China’s economy.
Okay – not really. But that’s what financial headlines will say in the coming weeks.
Why you ask?
Because the PBoC is very likely to up liquidity provisions from now until the late January Chinese New...

sources

The Paper: 央行重启逆回购并称将“维护年末流动性平稳

Reuters: China central bank adds more liquidity, cuts 14-day reverse repo rate

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